Deadline for complex trust to distribute income
By what date into 2011 does a complex trust have to distribute income to a beneficiary so he can report it on his 2010 return?
By what date into 2011 does a complex trust have to distribute income to a beneficiary so he can report it on his 2010 return?
Permalink Submitted by mk foss on Wed, 2010-12-29 23:50
A complex trust can elect to treat distributions within the first 65 days of the next tax year as being distributed in the previous year. Example, trust distributes $50,000 to beneficiaries on 2/28/11. Trustee elects to treat $28,300 of that distribution as being a 2010 distribution – this election is reported on Form 1041 filed for 2010.